Ovintiv Inc. (NYSE:OVV) Expected to Post Earnings of $2.54 Per Share

Equities analysts expect Ovintiv Inc. (NYSE:OVVGet Rating) to report $2.94 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Ovintiv’s earnings. The highest EPS estimate is $3.60 and the lowest is $2.36. Ovintiv reported earnings of $1.11 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 164.9%. The firm is expected to issue its next earnings results on Monday, January 1st.

On average, analysts expect that Ovintiv will report full-year earnings of $10.84 per share for the current year, with EPS estimates ranging from $9.28 to $13.36. For the next fiscal year, analysts anticipate that the company will report earnings of $13.61 per share, with EPS estimates ranging from $11.10 to $16.81. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Ovintiv.

Several research firms recently weighed in on OVV. National Bankshares decreased their price objective on Ovintiv from $90.00 to $60.00 in a report on Thursday, April 14th. Citigroup boosted their price target on shares of Ovintiv from $46.00 to $64.00 in a report on Tuesday, April 26th. CIBC lifted their price objective on shares of Ovintiv from $50.00 to $55.00 in a report on Thursday, March 3rd. Morgan Stanley upped their target price on Ovintiv from $49.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, April 22nd. Finally, Capital One Financial upgraded shares of Ovintiv from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $61.00 to $82.00 in a report on Wednesday, March 23rd. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $57.14.

In other news, Director Thomas G. Ricks sold 10,000 shares of the stock in a transaction on Monday, April 18th. The shares were sold at an average price of $53.73, for a total value of $537,300.00. Following the sale, the director now owns 145,500 shares in the company, valued at $7,817,715. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard John Mayson sold 2,200 shares of the business’s stock in a transaction on Friday, March 18th. The shares were sold at an average price of $48.09, for a total transaction of $105,798.00. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP raised its position in Ovintiv by 9,931.2% during the fourth quarter. Marshall Wace LLP now owns 3,939,360 shares of the company’s stock valued at $132,756,000 after acquiring an additional 3,900,089 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Ovintiv by 436.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 4,284,600 shares of the company’s stock worth $231,668,000 after purchasing an additional 3,485,198 shares during the period. Miller Value Partners LLC acquired a new stake in shares of Ovintiv during the 4th quarter worth approximately $73,897,000. Scout Investments Inc. purchased a new position in shares of Ovintiv during the 1st quarter valued at approximately $110,474,000. Finally, Point72 Asset Management L.P. lifted its stake in shares of Ovintiv by 125.9% in the 4th quarter. Point72 Asset Management L.P. now owns 2,958,747 shares of the company’s stock valued at $99,710,000 after purchasing an additional 1,649,165 shares during the period. 76.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of OVV stock traded down $3.34 during mid-day trading on Tuesday, hitting $43.97. The stock had a trading volume of 1,004,417 shares, compared to its average volume of 4,171,564. Ovintiv has a 12-month low of $21.92 and a 12-month high of $57.60. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.58 and a quick ratio of 0.58. The firm’s 50-day moving average is $50.94 and its two-hundred day moving average is $42.04. The firm has a market capitalization of $11.37 billion, a P/E ratio of -19.22 and a beta of 3.17.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.82%. This is a boost from Ovintiv’s previous quarterly dividend of $0.14. Ovintiv’s payout ratio is currently -35.24%.

Ovintiv Company Profile (Get Rating)

Ovintiv Inc, together with its subsidiaries, engages in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. It operates through USA Operations, Canadian Operations, and Market Optimization segments. The company's principal assets include Permian in west Texas and Anadarko in west-central Oklahoma; and Montney in northeast British Columbia and northwest Alberta.

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Earnings History and Estimates for Ovintiv (NYSE:OVV)

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